TDS rate for Financial Year 2021-22 or AY 2022-23

Tax Deduction at Source is a major  source of  tax collection to Central Government. TDS also help to  reduce  Income Tax avoidation because TDS collcet at original of income.

TDS deducted as per TDS provision of Income Tax Act, 1961  based on  payment limit of income after exceed the precribed limit of payment.

Example:

If an person   need to pay interest on sectrities Rs.50,000. TDS rate for such payment is 10% if exceed the payment Rs.2500. So as per TDS provsion need to deducted TDS Rs 5000 ( 10% of Rs.50,000) . After deducteion TDS Rs5,000 balance amount  Rs.45,000 need to pay and TDS amount need to pay Central Government of India through TDS challan no. 281.

If a person  does not have PAN than TDS rate will be applicable 20% for all payment except following

Salary payment 30%

Investment fund paying an income to a unit holder 30%

Income in respectof investment made in a securitization trust 30%

 

TDS rate for financial year 2021-22n or AY 2022-23 re given below in the TDS rate chart.

Section	Payment	Threshold Limit	TDS Rate Individual	TDS rate Company
192	Salary	Computation income  tax  on the slab rate for yearly total salary would be paid.	Average rate	NA
192 A	Withdrawal from Employee Provident Fund as premature	Rs.50,000	10	NA
193	Interest on Securities	Rs. 2500	10	10
194	Dividend other than the dividend as referred to section 115-O	Rs. 5000	10	10
194-A	Interest from Bank deposit ( fixed or recurring deposit) Or co –op banks. (other than interest on securities section 193	Rs.40,000 Incase Senior Citizen Rs.50,000	10	10
194-B	Income from lotteries, crossword puzzles, card,games and other games of any sort.	Rs.10000	30	30
194-BB	Income from horse races winnings	Rs,10000	30	30
194-C	Contractors         Transporter ,other than covered under section 44AE	Single payment Rs. 30000 Aggregate payment Rs 100000   Single payment Rs. 30000 Aggregate payment Rs 75000	1           1	2           2
194-D	Insurance commission	Rs.15000	5	10
194-DA	Payment of life insurance policy the tax shall be deducted on the amount of income comprised in insurance pay-out	Rs.10000	5	5
194-E	Payment  to non-resident sportsmen /sports association	Any amount	20	20
194-EE	Payment  in respect of deposit under National Saving- scheme	Rs 25000	10	10
194-EE	Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India	Any amount	20	20
194-G	Commission on sale of lottery tickets	Rs.15000	5	5
194-H	Commission or brokerage	Rs.15000	5	5
194-I	Rent Plant and Machinery     Land and Building	Rs.2,40,000       Rs. 2,40,000	2       10	2       10
194-IA	Transfer of certain immovable property other than agriculture	Rs.5,00,000	1	1
194-IB	Payment of Rent by Individual or HUF not liable for Tax Audit.	Rs.50000 per month	5	NA
194-IC	Payment of monetary consideration under joint Development Agreement.	Any amount	10	10
194-J	Fee for professional or technical service	If receipt is engaged in business of operation of call Centre If if sum is payable towards fees for technical service( other than professional services) Rs.30,000       Other cases Rs. 30,000	2                         10	2                         10
194-K	Payment of any income in respect of Units of Mutual  fund as per section 10( 23D) or Units of administrator or from a specified company.	Amy amount	10	10
194-LA	TDS on compensation for compulsory acquisition of immovable Property	Rs.2,50,000	10	10
194 LBA	Business trust shall deduct tax while distributing , any interest received or receivable by it from a spv or nay income received from renting or leasing or letting out any real estate asset owned directly by it to its unit holder		10	10
194-LB	Payment of Interest on Infrastructure debt fund to Non resident		5	5
194-LBB	Investment fund paying an income to a unit holder ( other		10	10
194-LBC	Income in respect of Investment made in a securitization trust		25	10
194-M	Payment of commission ,brokerage, contractual fee, professional fee to a resident person by and individual or a HUF     who are not liable to deduct TDS under section 194C,194H,or 194J	Rs.50,00,000	5	5
194-N	Cash withdrawal If a person defaults in filing of return : 20laks If no default is made in filing of return:  Rs.1,00,00,000	If withdrawal exceed Rs. 1,00,00,000	2 or 5	2 or 5
194-O	Applicable for e- Commerce operator for sale of goods or provision of service facilitated by it through its digital or electronic facility or platform	Rs.5,00,000	1	1
194-Q	Purchase of goods ( applicable w.e.f 01.07.2021	Rs.50,00,000	0.10	0.10
195	Payment of any other sum to a Non-resident
194-P	TDS on senior citizen above 75 Year
206-AB	TDS on non- filers of ITR

 

You can  pay TDS payment online